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United States Natural Gas Fund, LP Message Board

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  • rusty_98070 rusty_98070 Dec 20, 2008 12:54 PM Flag

    winter snowstorms takes nat gas lower....

    Although NG can fall at bit lower, it will only be temporary. Immediately the massive cold weather nationwide will increase draws, and if,as expected, this is the coldest winter we've seen in years along the East coast population centers we'll see above normal draw downs for the months of Dec. Jan, and Feb. The market is forward looking and certainly the nay sayers have been touting the over supply mantra. Frankly, yes, the US certainly can become an exporter of LNG, but not at these prices. The new raft of shale plays are not economic at sub $7 gas, and there will be a drastic curtailment of drilling activities and well shut ins when the price drops below $7.50.
    We are already seeing that with rig counts down and decrease in capital budgets going forward.
    I bought massively yesterday starting at $22.80 all the way down to $22.20.
    Remember, the cure for low gas prices are low gas prices.
    R

 
UNG
13.56+0.10(+0.74%)Jun 30 4:00 PMEDT